After six months of huge gains, the stock market has been giving up ground throughout most of the month so far. Today was certainly no exception, as the Dow Jones Industrials
One part of the market that did succeed in reversing its recent slide was the precious-metals complex. Gold rose more than $30 on the day to claw its way back to around the $1,575-per-ounce level, while silver gained $0.75 to climb back above $28 per ounce. Oil prices continued to sag, however.
Facebook announced after the market closed that it has priced its initial public offering at $38 per share. At that level, the social-networking giant has a market capitalization of more than $100 billion. Where it will end up after shares start trading tomorrow is anyone's guess, but many expect an initial pop even with the dour action in the overall stock market.
According to reports, Hewlett-Packard
As for tomorrow, it's hard to predict whether investors will get a rebound. Moody's followed through on an anticipated downgrade of several Spanish banks this afternoon, along with the U.K. subsidiary of Banco Santander
Don't give up
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Fool contributor Dan Caplinger doesn't own shares of the companies mentioned. You can follow him on Twitter here. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool has a disclosure policy.